Dubai: Owners say property price is still 50% of buying rate

Majority of homeowners in Dubai are still suffering from the real estate recession that started in 2008. According to them, the dip in the price of the property is too high for them to offload it at their current value.
According to an ‘Emirates24|7′ poll 81 per cent respondents think their property in Dubai is still in negative equity. More than half (55 per cent) of participants said their property is valued at 50 per cent less than what they’d bought at. Another 17 per cent said their losses are between 30-50 per cent, whereas, nine per cent said they are in 25 per cent negative equity……………………………………….Full Article: Source